Tremor Video Files for IPO
Tremor Video, a big video ad network that has long been eyeing a public offering, has finally decided to go ahead with one. The New York-based company just filed its S-1, and should be headed out on a road show within the next month.
Here’s the summary of what Tremor executives will be telling investors:
- Last year they lost $16.4 million on revenue of $105.2 million; the previous year, they lost $21 million on revenue of $90.3 million.
- During that same time period, gross margins improved from 35.2 percent to 41.7 percent.
- Its ads run on more than 500 websites and mobile apps.
- Big backers include Canaan Partners, which owns more than 19 percent of the company, as well as W Capital, Masthead Venture Partners, Meritech Capital, DFJ and General Catalyst.
- Tremor wants to raise at least $86 million, and plans to trade on the NYSE as TRMR.
Video industry officials expect that rival video ad nets YuMe and Adapt.tv may also go public this year; all of them will be looking to compete in a space dominated by Google’s YouTube, along with smaller players like Hulu.